Police have arrested a 30-year-old man for suspected involvement in loansharking activities.
Preliminary investigations revealed that the suspect had opened at least four bank accounts and given away the victims ATM cards and Personal Identification Number (PIN) to loansharking syndicates to facilitate their business of unlicensed moneylending.
The man is also believed to have assisted the loansharks in the recruitment of other potential bank account holders and arranging to ferry other runners to carry out loanshark harassments islandwide.
The article appeals to me because, loan shark activities has increased for the past few years.
I would like to ask, how can we prevent from borrowing money from loan sharks?
If i am in charged of the situation, I would stop loansharking activities, as it brings threat to the victim and the illegal interest rate is high.
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